Nigel Chong 庄证评 wrote a post · Aug 25, 2023 13:53

Market summary 25 August 2023

Market summary 24/8/2033

Today showed that the market is facing some selling pressure. Despite excitement about $NVIDIA (NVDA.US)$ , big investors seemed to sell a lot of their stocks. Only three main stocks, including NVDA, ended in the green. The Nasdaq, which is a big part of the market, went down by over 2%. Many popular growth stocks dropped by more than 3%, even after starting the day with gains.

It's also important to note that there were more stocks hitting their lowest prices in a year than those reaching their highest. This doesn't mean the market will surely drop, but it does hint at potential instability and quick downward shifts.

I believe that we need to hear some positive news from Powell's speech tomorrow to prevent further declines. Looking at the current data, the market seems to be in a weak spot.

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